All the Spicejet promoters got the information on Friday that Kalanidhi Maran is going to invest Rs. 100 crore to blow new life in Spicejet in exchange of additional equity of 42.9 million shares aggregating to 5%.

Spicejet Airways

After this investment, Kalanidhi Maran and his family’s hold reached 48.6% in Spicejet. “Today our board met today and decided to allot 42.9 million preferential shares or five percent to the promoters. This will take the overall holding of promoters in the airline to 48.6 percent,” SpiceJet chief executive Neil Mills told PTI from New Delhi.

Vijay Mallya, promoter of Kingfisher is still finding a fresh up gradation by adding some fresh equity infusion. As of January, this Chennai-based airlines company enjoys 16.3% market.

The media person turned airlines owner Kalanidhi Maran became the chairman of Spicejet from November 2010 onwards after buying out American investor Wilbur Ross. Spicejet operates 264 flights daily to 32 domestic cities and two international destinations – Kathmandu and Colombo.